BoB, BHEL, RIL, Bharti Airtel top picks: Sharekhan

Sharekhan’s top picks are Bank of Baroda, Bharat Electronics, Bharat Heavy Electricals, Bharti Airtel, Crompton Greaves, Hindustan Unilever, ICI India, ITC, Lupin, Marico, Reliance Industries and UltraTech Cement.

Sharekhan’s report:-

In January 2009, the markets lost the bulk of their December 2008 gains amidst lacklustre quarterly performance (Sensex’ earnings declined by about 10.6% in Q3FY2009) and deteriorating sentiments on the back of Satyam Computer Services (Satyam)’ saga and increasing corporate governance concerns. During the month the benchmark indices, Sensex and Nifty, declined by about 7% each, while our portfolio of top picks marginally underperformed the broader markets, recording a negative return of 8% during the period.

This month, we are making four changes in our top picks portfolio. We have removed Aban Offshore from our list of top picks during the month on rising concerns about the deployment of its idle rigs, while we are also removing Shiv Vani Oil & Gas Exploration Services from our list. We are adding ICI India to our list in view of its appealing valuations and high cash levels, which can be used in the business to fuel growth. We are replacing Punjab National Bank with Bank of Baroda (BoB) on the back of its strong operational performance on all fronts and attractive valuations. Furthermore, we are also replacing Larsen & Toubro, in view of the uncertainties surrounding the Satyam acquisition issue, with Crompton Greaves.

Tags: calls, daytrading, free calls, intraday, tips

Similar Posts:

• Buy BHEL, target of Rs 1546: Sharekhan
• Buy Bharti Airtel, target of Rs 781: Sharekhan
• Arshiya International: One of Kotak’s top 5 picks for 2013, down 50% in 3 days
• Reduce BHEL, target of Rs 1303: Angel Broking
• Angel Broking neutral on BHEL